Cannabis Testing Market Size - includes Market Product, Application, End-user, Size, Share, Trends, Growth, Demand, Supply, Services, Segmentation, Opportunity, Market Development, capacity utilization, supply, Analysis and Forecast " to its huge collection of research reports.
The global cannabis testing market is expected to reach USD 1,416.3 million by 2021 from USD 822.0 million in 2016, at a CAGR of 11.5% during forecast period (2016–2021). The growth in this market is mainly driven by factors such as legalization of medical cannabis, coupled with the growing number of cannabis testing laboratories (specifically in the U.S.); growing adoption of LIMS in cannabis testing laboratories; and increasing awareness through conferences, symposia, and workshops. On the other hand, the high cost of analytical instruments, presence of alternative technologies, and dearth of skilled professionals are some of the major factors that are expected to restrain the growth of this market in the coming years.
Rising funding for cannabis testing laboratories is one of the major trends observed in the cannabis testing industry. Growing legalization of cannabis for medicinal purpose has attracted various prominent market players and investors to invest in cannabis testing laboratories to develop and improve analytical testing to ensure consumer safety. For instance:
- In February 2017, Cannabi-Tech Ltd. (CBT) (Israel) received funding of USD 1 Million from Agrinnovation. The company intends to utilize these funds for the North American launch of its testing platform for medical cannabis labs and dispensaries.
- In November 2015, Steep Hill Labs, Inc. (U.S.) received funding of USD 2 Million from Delft Blue Horizons (Netherlands), Phyto Partners (U.S.), and Poseidon Asset Management (U.S.) to support the expanded testing services in addition to new research and product development.
Cannabis Testing Market by type 2017-2021 by new Service spreads across 170 pages profiling 12 companies and supported with 160 tables and 49 figures available at http://www.rnrmarketresearch.com/contacts/discount?rname=936550
Cannabis Testing Services Market, By Type
Residual Solvent Screening
Heavy Metal Testing
Cannabis Testing Market,By End User
Product & Software
Cannabis Drug Manufacturers & Dispensaries
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Fundamental from Table of Content
2 Research Methodology
2.1 Market Size Estimation
2.2 Market Breakdown and Data Triangulation
2.3 Assumptions for the Study
4 Premium Insights
4.1 Cannabis Testing Market Overview
4.2 Cannabis Testing Market, By Product
4.3 Cannabis Testing Products Market, By Type of Analytical Instrument
4.4 Cannabis Testing Products Market, By Type of Consumable
4.5 Cannabis Testing Services Market
4.6 Cannabis Testing Market: Geographic Snapshot
12 Company Profiles
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, RnRmr View)*
12.2 Agilent Technologies, Inc.
12.3 Shimadzu Corporation
12.4 Millipore Sigma (A Life Science Segment of Merck KGaA)
12.5 Restek Corporation
12.6 Perkinelmer, Inc.
12.7 AB Sciex LLC (A Subsidiary of Danaher Corporation)
12.8 Waters Corporation
12.9 Accelerated Technology Laboratories, Inc.
12.10 Steep Hill Halent Laboratories, Inc.
12.11 Digipath, Inc.
12.12 SC (Science of Cannabis) Laboratories, Inc.
12.13 Pharmlabs LLC
*Details on RnRmr View, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments Might Not Be Captured in Case of Unlisted Companies.